OCEANSIDE  Piazza d’Oro, a rental townhouse project off state Route 78 in Oceanside, has been sold for $81 million, setting a local record of $366,516 cost per unit, according to CBRE Group.

The seller was an affiliate of ConAm Group, and the buyer was a Los Angeles investment firm, TruAmerica Multifamily, in partnership with Guardian Life Insurance.

“In my opinion, it’s the best rental property in all of Oceanside and perhaps the 78 Corridor,” said CBRE’s Kevin Mulhern.

Located at 3402 Piazza de Oro Way, the 14.4-acre project was developed by K. Hovnanian Homes as a for-sale project. But when the recession hit, the company sold the property, including 32 partially completed units, to ConAm, which completed the construction and began leasing in 2011. The sale closed about two weeks ago.

A property manager said the rents range from $2,250 to $2,550 on units of 1,586 to 1,704 square feet. Ten units are currently vacant.

Mulhern said TruAmerica and Guardian’s purchase represents a “big statement” for Oceanside’s prospects as an attractive housing market for investors.

“(The sale) shows how far it’s come in terms of morphing into what I think generally is a much more coastal-acceptable market,” he said.

However, he did not predict other apartment developers will build similar projects, since Piazza benefited from an oversized models rented at submarket rates. The typical apartment in the county is usually less than 1,000 square feet, while rents on Piazza-type layouts normally would command monthly rates of up to $5,000.

Besides more space, Piazza tenants are getting granite countertops and other upgrades not always available in rental units.

“The finish levels are arguably probably even nicer than in most nice apartment projects,” Mulhern added.

Ultimately, the project could convert to condo sales, he said, depending on market demand.

For now, renters can enjoy amenities befitting a condo complex — big pool and spa, upscale fitness center, tot-lot with climbing wall and a dog run. The units carry Italian-themed names, such as “Venice,” Tuscany” and “Capri” and there are touches such as Renaissance-styled fountains and an Egyptian-like obelisk, like those relocated to Italy by ancient Roman emperors.

Mulhern said the buyers benefited from a brief window of low-cost financing. CBRE’s debt and equity finance group arranged a $50.5 million, seven-year loan at 3.85 percent, interest-only for the first three years. The rates had been going up and money availability was tightening when the loan closed.